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Lifestyles Unlimited, 6/17

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Texas weather can change on a dime. It's. Doing here shortly. When the weather turns severe. Turned to us for what you need to know on air and online at top thirteen sending dot com top thirteen seventy. The right choice lifestyles unlimited real estate investor radio show. A real estate investment for. Listen and learn how to use realistic to build wealth and passive income streams were you when your family. We'll bring you experts everyday to discuss and answer your questions on everything from single family homes all the way up to 600 plus unit apartment complexes. The lifestyles are limited we. Real estate investor radio show. And welcome to lifestyles. Limited real estate investor radio show on your coach Steve Davis ware as always we're here talking about your financial freedom. We're talking about your retirement. And we're trying to get the point across that retirement has nothing to do with the age. It's. It is simply assume Hoosier income. From your investments meet and exceed your once in major retired. You don't have to wait till 65. North to wait till 55. We literally had students of ours in their twenties including my son. Who are retired. How to we define it simply. Take take somebody who goes out over the next five or ten years. And they are working their job and they're saving about a grand a month. The end they buy twenty houses over the next. Or two years. Those twenty houses are gonna make you about 8000 dollars a month profit. Well if you're wise. And most people are not so I picked up but if you're wise you're gonna keep you're bills down near the average. And the average fills for an American friendlier 4000 dollars a month. And she's. So if you had 8000 dollars a month coming in from your rental property. In your bills are 4000 dollars a month or so lead. 4000 dollars a month for romance for travel or unexpected medical costs and so. Excuse me. But the thing you've got to understand is this and if you think for a second. That everybody understands this they dumped I'll give you an example in a moment. If your bills are 4000 dollars a month. In your rental property brings you 8000 dollars a month when you have to go back to work. You don't. You're retired. Not after forty years of work. Not after thirty years of work and after twenty years of work we're talking five or ten years. See the big lie out here. Is that retirement has something to do with age. They talk about fifteen hour and a half in the compose your money on your IRA without a penalty. Excuse me which you should never have your money in NRA to begin with a or they talk about sixty about 65 is the big number. That psychologically. The majority of people think about it in retirement. But did you know that 95% of Americans failed to retire by age 6595%. Only 5% of Americans. Retire before or at age 65 now the good news is we know what they're doing. The 5% who are successful. Use businesses and realistic. It's that simple to switch you better. She's so many people were out there imitating failures. They literally are proud to imitate failures they go to failures. And ask them how they did it. If you think I'm kidding how many of you have a financial planner. You know that the average financial planner in the United States makes 65000 dollars a year. Now they can't retire themselves. But you go to them and say hey teach me how to retire. Now they can't do it but somehow they're gonna teach you how to do it. Are you out of your mind. You don't go to the 65 tell your person and ask them how to get rich. You go to a millionaire. Over Steve I don't wanna funded millionaire poll. There are so many programs out there. That involve millionaire men Torre including ours is ridiculous. It's ridiculous. There is no excuse. For you not have a millionaire on your team it's not us somebody. But that's how you win. I do wanna make it clear. That if you had enough money. You could do this in one year. We have had students. Literally retiring six months why because they had huge chunks of money like 750000. Dollars to start with. And what they did is they went instead of buying a bunch of single family homes they just knocked it out of the park by just going in by an apartment complex. That retired them. That's what this show is about. And that's what I'm getting insured your questions on cause if you're of average intelligence or above. You've either already figured now is passive income or you listen to me and gone. Who. Seeing I get it now no one ever taught me about passive income. Nobody ever taught me about investment income but no diverted I can't own hear it on don't know that's the business model that works. I want some passive income plus it. I don't know how to do. How do you find the deals how to move on what deals what he is a good deal. What about tenets of her tennis don't pay up her tennis destroy your property or her taxes go up upward insurance goes up. You got fears. You've got worries you've got questions you've got reasons you can't invest in real stay there all be yes. They're all via us doesn't matter though. Because if you believe that it it acts on you as if it was true. Let me give you an example. Of only give you two case studies the first one addresses an issue I brought up a few minutes ago that. It's not obvious to people. That if they have passive income making quit their jobs. I was doing a seminar now some are radio show and we had set up live at the George. And it was out like some. One of the column. Convention. That's not the word for it though it was it was a wealth building. Some symposium or something like so we were doing our show live. From that symposium. Expand their I have may be twenty or thirty people sitting listening to the show. And I made the comment yeah. If your bills are 4000 dollars a month and you have 8000 dollars a month communing cash flow you don't need to go back to work. In this old. Older former looking guy and I say that because we don't know overalls and dirty boots. Started fidgeting in his chair. And I couldn't figure out why it's like me house's fault that you know may discount magnet. And I'm thinking this guy's going to hear Armenian new one after the show. He is furious at me that was the sense that I got because he was just. He couldn't sit still. So we went to break. And he knew we go to commercial break and he gets up and come straight to him. And he goes to me. Do you know that I owned I don't remember the exact numbers because our own 84 Alex's. The income from those 84 flexes pays all my bills. And then some. Steve. I worker job that I hate. 5060. Hours a week. That I hate. You know that I never ever thought of quitting my job. I felt that she's what you do. You just work work work work work till you die I thought that's how it worked. There are small because it was just like an epiphany for him. In the energy in the excitement that he had was just contagious. Because Steve I'm quitting my job Monday. And taking your course. See it's not obvious to people. This is such an alien concept. To most people's minds. They're so used to trying to save their way to retirement. They're trying to save up some imaginary number that they can't outlive. And then they retire and begin praying they die before they run out of money just a stupid. Ineffective business model. This guy was already retired. No I didn't get a chance to talk to him for very long but one of the questions I wanted to ask was how long have you owned them. And I bet you he would sit alone for twenty years. He could retired twenty years ago. Ten years ago five years ago. I don't know. Put his mindset. Was that you work. Every day of your life. The second concert don't wanna get out you. Seeing him case that reform is if you got a belief about real estate investor and you say it doesn't work. I can't do it or I'm not good enough to do it. I'm telling you all those beliefs or via us. And the point is that it doesn't matter the fact that you believe it makes it true. This lady can also probably room for years now. And goes to you you're talking about people owning a 124 rent house. My bank told me that I can only have four rent houses. So six months ago I stopped looking for rent houses. I explained to her I said that's that banks rule. That's not a bank across the street rule. Or the bank across the street from Matt. C. There is no limit to the number of single family houses you combine. But she believed there was. And even though it was a false belief it was total BS. She acted as if it was true. I want you to think deeply about this coming beliefs you have that are holding you back there are true. Coleman. Share with me why you think you can go out there and get rich with we will stay at 8777115211. 87771152. This is the lifestyles unlimited real estate investor radio show bachelor's. Lifestyle some limited is the real estate investor education and mentoring group that is taking people by the hand and taught them how to invest in real state for over 24 years our students have been so successful at creating wealth and passing thing found that they won local state and national investor the year awards nine of the last nine years it's easy to see my personal real estate investor magazine named as the best in the US if you're ready to add real estate to your portfolio go to lifestyles unlimited Austin dot com to access our free live training events scheduled. Wondering who the free workshop is for we did amazingly successful with people who are pressed for time. Doctors lawyers small business owners and corporate professionals. Who are grinding their lives away for earned income and don't realize they can start creating passive income today. Within that confines of their schedules and commitments. Want to get started now go to might passive income workshop dot com. That's my passive income workshop dot com. Again as stands today all day long in the car on my way to work heading home listening online keeps you in touch while you work at top thirteen 78 dot com get a ring no top thirteen seventy anywhere kind of their brightness way. Real estate investor radio show your host Steve Davis. Let's go straight to the phone lines which are open at 8777115211. That's 8777115211. And talked to Keith in Dallas Keith thanks all for calling him how are you today. And there it. Excellent thanks how can help. Well I'm just sparked listen for the and actually goes. To single family home edited it. Yeah. But I don't know how news. Continue it purchasing homes to get around the court papers that. That local bank is. Yeah OK Mario we don't put 20% down. What's your missing is a little piece of information about a thing called hard money loan. It's okay stage process. Two stage process. What a hard money loan does is it allows you to get him for as little as zero day. But it. In today's market because we're in the up market. The average down payment ranges between 151025. House. So we're buying a hundred a 150000 dollar homes. We're by armed him 1520000. Dollars below market that's after including purchase price. Rehab. And closing costs remembered always include your closing costs in the as you're all here. And what they do Keith is they will say look. And let's use a 100000 dollar house for this extreme. If you combine it rehab it in the closing costs come up to 75000. Dollars that's a zeroed in on deal. In other words they'll give you up to 75%. Of the after repaired value. With nothing dale. But if you get it for 80000. That it would be 5000 now if you get a variety 5000 could be 101000 them. So you can cut your damn payments dramatically. By using hard money loans there expensive. Meaning they have a 12% interest rate. But you only use them for two months in other words you buy it with a hard money loan. Finish your rehab. And then go to conventional refund yet which does not agree that I am older and you've got you. Got okay. So you can do that in many parents are there. There's less than accurate science. Yeah there's no limit. The limit is on Fannie Mae's what you want her to move Keith is the first ten houses you including remember that's for units are below the single family are. The first ten that you buy make sure use Fannie Mae loans does have the lowest interest rates and the best terms. But as soon get past ten then switched to portfolio loans. And there's no limit in the. You recommend. Finance my ears. Thirty thirty years you want to lowest payment you can get in the other thing you're doing we never pay our real estate off the goal is not to pay your real slid off. That's a big misconception. They have done it all totally different. Yeah just because of the lack of knowledge probably. Yeah I put everything on Internet without pay them off as quick are. No basis with Lesnar did Robin on. Brad yeah did it when. OK. That I needed visionary or somewhere but that is. I'd never heard of that happy you know about them and under the look at. Yes check out lifestyles on limited we're 27 year old education and mentor group for real estate investors. So go to our lifestyles unlimited dot com and at the top of the page they'll be a free workshop Ford. Probably that I appreciate they've. Thank you Keith you take care. It Karbala. All right let's go to Victoria and now which is just self I think south west of Houston and talked to Michael. Michael thanks a lot for calling in how are you today. I'm I'm great that they can mark off those are. My question Alex he. Are that are in there year. Outlet in the regular and which are in the artwork. It was followed. You're curious Marty you know and and let them do it now I'm here is there he that I. They that I wouldn't be that candidate but it then and hopefully I'm I'm open I'm wrong and it and it. And here I'm I'm in the right direction. Sure let's see what's the problem. OK so I don't know the site. The but it down payment and I know her daughter put to bed about by Peter bureau downfield but that bit. The expected colonel that I or credit or almond. 500. It was what. Well what what what they look forward when you're getting let alone what I yeah. Hispanics are at 640 and yet to do what we do all doggone it we've got to go to break do you mind holding about four minutes and I'll get with you remember come back from the break. All right hold on please alright this is the lifestyles unlimited real estate investor radio show. And equality 777115211. 877. 7-Eleven. Fifty. Long time lifestyles member Curtis Haines. A real joy for me looking back. Is helping others and I wouldn't be able to have done it without the support of lifestyle ladies can't Hayes thank you enough skill for that. If we were to ask people if they could vote on the top ten guys. That help for the people you'd be one of them there's no doubt about it. You have this roadmap of holy success stories on this one I'm just. One person out of the thousands fantastic success stories that each and every person can learn from that's my advice. Take Curtis Painter advice come meet felt like minded successful investors who are helping others just like Dell helped him. Attend the workshop. Get your map safely and quickly build wealth and passive income so you never have to worry about working till you drop. Losing your job or retiring in poverty. Call 18669718970. Or go to lifestyles unlimited Austin dot com that's lifestyles unlimited Austin dot com to register for the workshop it will change your life. Keep up with the latest breaking news in Austin and around the world take a moment to make sure you're following us on Twitter at top thirteen 7811. The trading began. Just one more way to stay connected with top thirteen seventy the right choice. To. The. Welcome back to allow ourselves on limited release and investor radio show on your host Steve Davis phone lines are open at 877. 7-Eleven. 52 he loved them. 8777115211. Am more on the line with Michael. Who's got a challenge both with credit and with cash reserves. And Michael. The one thing that I have to warn. Is some of the same things I'm about to say can come across as harsh. But let me first say this to make it not sound harsh I've had bad credit to different times in my life. I've been broke two different times in my life some of making fun of me I just know what is life. I know the mentality that I had I know what I'm doing with my money I spent every dumb that I made I lived beyond my means about cars to impress women. I did things to impress women that cost money. I did. I mean I blew my mind. Ends. When I got to pay cut under the bed credit not to blame the pay cut but if I hadn't done all the dumb stuff before that. I would've had bad credit so it was really all my fault and when it comes in not having savings. It generally comes down on the Michael people have this disease. Called instantaneous. Gratification. Instantaneous gratification. They want that fancy car meant that he earned it no all put on credit owns right now and we spend more than we make. You know most people in the United States are living paycheck to paycheck not some. Most. So what you've got to do as you've got to beat goes to your demons. The first is a bad credit the first his lack of savings. To do what we do Michael you need a 640 score or higher. You want a 680 score because it's 640 you pay a higher interest rates. As 680. The world's your oyster as 700. Plus banks bend over backwards to give you money Michael. Literally I get banks calling me asking me. Are you don't buy another house this month are you gonna buy another apartment complex this year. And I'm not kidding. They look for my business and they will for you to. And when it comes to saving Michael to do what we do. Effectively you need to be saving about a thousand dollars a month. So you've got to get yourself in the position where you're saving a thousand dollars a month and you've got to get that credit repair. And remember this when Delmon toward me Dole's my mentor. What he brought me into the office and so was Steve what do you think credited Schwartz war. And I did not. And he goes its credibility. So you have no credibility that's where your credit scores. You don't keep your promises. You don't pay your bills. He and blew my mind it made me angry. It made me embarrassed. And I never let it happen again. After that to get that credit clear start saving a thousand a month and start buying income producing real state and hope that helps Michael. Excellent excellent step out. A at this. All right Michael you take care. Bubba. OK phone lines are open at 8777115211. 8777115211. Or you're welcome to email me it's ask Steve. At the old view. I NC dot com. And asked Steve. Don't you I NC dot com. OK got an email here from someone with blow a lot of money. I got over 200000. Dollars and bad credit. I see this one never makes sense to me. I don't see how you have bad credit and you have 200000 dollars. The first thing you've got to do anonymous. Holds the bad credit issue. Salt the bad credit issue. Go pay off the bed now you need help though. And only costs a 1015100. Dollars to hire somebody to do for you. Do not represented yourself remember this rule in life who's the attorney with the greatest fool for a client. The attorney who represented themselves. Never ever represented yourself funny actually. You always want a third party. And if you go to court you always want a third party to tell them how great market if you say it you're an arrogance and Oregon. If they say that it's probably true. So get a third party that is a credit was here specialist. And get them on your team. Because there's certain letters you have to write before you pay off bad credit. Many people pay out bad credit thinking automatically comes off their credit report it doesn't. You've got to have a professionally written signed document before you pay off in the bad debt so. You're you're in line to get rich he bar got 200000 dollars. Can be very easy for you get rich in real estate just. Give them credit for. Perfected and don't make it even easier. OK phone lines are open at 87771152. 87771152. Vito in Dallas but I see you on hold you know if we. It is like come back from the break here on the lifestyles of. Did you know that every dollar you put into a piece of real estate makes you money five ways. Cash flow money in your pocket each month. Equity capture the thousands of dollars you create when you have the right team and by the right property using the right map. Appreciation. Real estate doubles in value about every ten years equity buildup. Renters pay down your mortgage each month and finally the tax advantage we pay almost no taxes on our cash flow and capital gains. These are the five ways we make money in real estate which is why a realistic account for more millionaires in the world today than any other investment vehicle you should have some real estate in your portfolio. To learn how attended one of our free workshops call 18669718970. Or go to lifestyles unlimited Austin dot com and register for the next available workshop. That's 8669718974. Go to lifestyles unlimited Austin dot com. If every talk radio program for the same. What would be the point the Michael very shows a little bit different. We're gonna talk about politics we'll also talk about how great it is to live in Texas we days five to seven on talk thirteen seven Michael Berry show. Welcome back. Into the lifestyles unlimited real estate investor radio show remember you can find us on the line and lifestyles unlimited dot com. And got one person asking you reserve in the seat. At the three workshop I cannot do that out. You need to go to lifestyles a limited dot com and go to the top of the page and it'll say free workshop registration there that's it lifestyles unlimited dot com. Free workshop registration at the top of the page so screw and talk to. In Dallas so they're. How are you. Yes five is they are Charlie they're excellent thank you have to. So at a so there have been indicted station I'm I'm listening to you or and so they admitted they're due on Google's open. They'll have a problem quality and also put in Mario's fire. Among among them but really doing anything it yeah. I don't know. Me. I would. But I don't vote out every month debate. Good lord. You could buy a house every two months. There and start producing a passive income with savings like these. Yeah you all you need to do is just learn the correct business model. Yes. I'm I'm going to give up start to go home. Did you have a specific question or did did this just shocked are calling. Our short straw dogs are good social judgment that should take it and I'm just chalk that. Time. That it regretted and I'm yeah studios aren't good you have played well. America great conservative. Base of beer red zone by Connecticut and a special. That you have a big lies the. Well you're welcome and I appreciate that phone call and don't don't be embarrassed about phone caucus. Sometimes it takes one phone call to get you started this may have been your first action step towards your goal so yet voted you out. I while I appreciate that phone call be to take care. They're bigger bigger and hopefully thank you want. You're welcome Obama. Well that's that's really interesting. Because I don't think many people who have that epiphany call. I think the people that listen to show for the first time. Do grounds that. And they they go wow man why was not taught that in high school wide it was and I talk that in college. It's because the high school and colleges not there to teach you this type of stuff. High school and colleges they are to teach unity and employee. You have to self educate like listening to the show like reading books. If you're ever going to become financially independent the business model. Of going to work. And climbing the corporate ladder to get wealthy. Is ineffective it accounts for very very few successful people. It's my way less than 1%. Well some 1%. And if you don't believe me just think about it. Do you realize it takes saving 50000 dollars a year. For twenty years. To save up a million bucks. Yet that's most people's business model. They think they're gonna save a million bucks and retire. But you have to say after taxes after insurance after car payments after house note after taking care of the kids after medical expenses. You've got to save 50000. Dollars a month. For twenty years to come up with a million bucks. That's not the way to do that it's totally ineffective. It's a pie in the sky and number anyway. Meaning you can't live off a million dollars anyway it's not a good retirement number. I'm a guy called him. He retired at sixty with a million bucks. You know the sad tragedy. He's 97 now. He if he happen. Take a little money and bought real estate he'd be broke right now. Here's the tragedy. He's leading a long healthy life that's the tragedy. Can you get the joke. If you try to save your way to retirement you're scared to death you're gonna live a long time. Totally wrong business model Kate phone lines are open. It's 8777115211. 877. 7-Eleven. 5211. Or you're welcome to email me. Is asked Steve at LO URNC. Dot com. Ask Steve. App though you are in C dot com. Got a quickie email. It's just what is the average out of pocket for single family house and that is the right question to whomever. Asked what the down payment is because a down payment does include closing costs. And rehab and so on. So the correct question which this anonymous poster past. Is what is the total out of pocket is between fifteen and 35000. Dollars per deal. And the average is about 25000 dollars per steal your average rate of return is going to be above 40%. Will be back after the break. What would happen if you didn't show up for work tomorrow. For the next couple of days for a week. A couple of months a year. How long until you lose everything you've worked for in a fraction of the time it took different if this fear keeps you up at night it's time to learn the strategies we teach at lifestyles unlimited start with the free workshop. Go to might passive income workshop dot com and find your true financial piece like so many of our members already have. That's my passive income workshop dot com. We know Austin trafficking via. Challenge. These continue with time saver drastic. Mornings and afternoons on top thirteen seven lead the right choice. Thirteen seventy. Good to relive the investor radio show host Steve Davis interest rates the phone lines are gonna flower mound. Texas and talked to Matt Matt thanks a lot going and how are you today. I'm good speed are you doing excellence is well. Well I he once or probably about four months ago. And bigger bite on a home equity loans and an art but I do. Rental properties are just on outnumbered three were about the lift it Monday morning good. Photographer takes pictures. A unit made a comment. Two previous caller about 181000 dollars. It's enough to make it down payment are hurt by it renal. Rental property and it it just you know you limit 20% rule 161000 to 20%. No you shouldn't be hurting 20% down. They're using hard money loans. Yeah we actually hit this at the beginning of the show. But it's basically you shouldn't be using conventional loans were 20% down because if you do then you have to pay for the rehab. Plus the closing costs all out of pocket. If I use the hard money loan the harmony loan includes the rehab money. And in special cases it even includes the closing call us. So have you been buying using 20% down. Yeah Altria particularly poignant but he broke it down. Okay have you taken our clash. Okay I'm gonna give you sales pitch. You should take our class it's only two days it cost 500 books. And it will. Teach you how to use hard money loans plus probably twenty or thirty other strategies. That will save you money and make you more effective than the instrument. Don't go out there and do this on your own because I think of it like this. There's a guy staying there who has ten years of martial arts practice. You have known. Would you fight that guy probably not. You try to avoid it you might have to fight but to try to avoid it. Why because I know some strategies he knows all the special things have been learned over thousands of years. He's learned them in ten years. It's the same thing with real estate investing. You don't wanna go out there on your own and just kind of trial and here trying to figure it out. And you certainly don't trust a banker to tell you how to do it because they don't know any realistic. They just know how to sell you the best loan for their bank. Which is what they do so please go to our free introductory workshops first and consider taking a tutor class man it'll save you down payment. It'll make you a better operator as well. I. Find that you take here. Mama. Let's go to Carrollton now and talk to Hillary Gary thanks optical and how are you today. Good or. Excellent how can help. Yes. I was just wondering over all. What percent return news. All right portfolio. Real estate investment in your experience. I mean I'm calling you adopt high net worth individuals that. You know can retire and then. And just. Investing in vanguard there. Yeah and they hit the difference would be that real estate makes you money for Wendy's. Will release five ways because of the tax advantage. But let's just address the cash on cash rate of return for the moment. The cash on cash rate of return on an apartment complex that your the owner and operator of its gonna between fifteen and 20%. But if it's a balance you play you double your money about every two years. That's the value play there's a think all the more than. Not just a it's called forced appreciation. It's we're gonna take you go and what's your basic what we're basically doing is we're on out slum lords. We go find the guy who doesn't care about people he'd raped the deal. We go in and we buy yet and we completely rehab it. That changes the value of that as we increase the rents and increase the occupancy. We increase our you know alive. The majority of the valuation of an apartment complex will be from the you know law. Well if we raise our alive by 10% 20%. We're increasing the value of that property by 10% or 20%. So let's say we took two million dollars and put it down on a ten million dollar property while at the end of two years were refinancing it and pulling out our two million dollars. We still own the property we still have our original two million in the deal but we're also sitting on two million dollars tax free because it's a loan. To go by another apartment complex. And that's that's an oversimplification. Of why we saw the stock market and mutual funds and things like that because I didn't include. Equity build up I didn't include the tax advantage we pay little to no taxes. It's it's just a totally different scenario area I'm running out Tom. Yeah that's OK idea. You can't do my question I. Appreciate your and I. Wolf thank you so much for calling you know here you take it there. Yeah and it'll single seemly course for areas of big. The net worth. Wouldn't touch a single thing he would go straight to apartment. But you don't single thing we're making its way to 44% twenty to 24% rate of return Castro there. Plus over a 100% on equity captured. All right thanks for listening. You all have a great rest today. Thanks for listening to the lifestyles a limited real estate investor radio shows remember that this show is for entertainment purposes only. I should not be construed as legal investing more tax advice results thanks very. Always consult a professional before making any financial decision. If you'd like to find out more about the mentoring available at lifestyles on limited please visit them online at lifestyles unlimited dot com. Keep up with the latest headlines from Austin and beyond on the all new talk thirteen seventy dot com stay export with the latest news weather contests and more it's all just a click away had talked thirteen seventy dot com just one more way to stay connected with talk thirteen seventy.